OREANDA-NEWS  The total investment in the flax processing project on the basis of a former flax processing plant in the Pochinkovsky district of the Smolensk region will amount to 800 million rubles, said the governor of the region Vasily Anokhin.

The agreement with Ilnets Partnership LLC on the further implementation of the investment project was signed at the St. Petersburg International Economic Forum.

The project is aimed at processing flax to produce both long and short fibers. By 2027, the area of flax cultivation will be increased to 1.3 thousand hectares, and the volume of flax processing will be up to 5 thousand tons per year. This will make it possible to produce more than 1,000 tons of flax fiber annually, Anokhin said.

Repair work is currently underway in the factory's production facilities, installation of engineering communications, purchase of technological equipment and agricultural machinery. To provide the enterprise with its own raw materials, a land area has been formed and continues to expand for the sowing of flax. "

"Flax growing is a historical industry for the Smolensk region, so its development is strategically important for us. The work is being carried out jointly with our agro-industrial companies and investors. It is important not only to increase volumes, but also to achieve high–quality results," Anokhin said in his telegram channel.